Strong demand may lift the share count to 25.3 million, exceeding the US$600 million target.
Instacart plans to issue 22 million shares at around US$10 billion, a notable drop from the US$39 billion valuation in 2021.
The share price was set at the high end of a range disclosed previously by the company, which plans to offer 22 million shares to be traded on the Nasdaq exchange under the symbol “CART,” Instacart said in a release. In the event of strong demand, the number of shares could climb to 25.3 million, raising US$759 million for Instacart.
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